Grayscale has secured approval from the New York Stock Exchange to launch spot exchange-traded funds for Dogecoin and XRP, with both products set to begin trading on November 24. The NYSE Arca certified its approval for both the Grayscale XRP Trust ETF (GXRP) and the Grayscale Dogecoin Trust ETF (GDOG) through regulatory letters dated November 21.
This marks the first time two major altcoin ETFs will enter the U.S. market simultaneously. Bloomberg analyst Eric Balchunas confirmed the approvals and noted that a Grayscale Chainlink ETF may follow soon. The dual launch represents a significant expansion for Grayscale beyond its established Bitcoin and Ethereum products.
The approval allows Grayscale to make shares available to investors through its regulated trust platform, enabling conventional investors to benefit from token price performance without holding digital assets directly. Both the XRP and Dogecoin ETFs will carry a 0.35% management fee. Grayscale, which oversees more than $35 billion in client assets, first launched its closed-end XRP trust in September of the previous year.
The ETF structure removes traditional barriers to entry. Investors can now access these digital assets through standard brokerage accounts and retirement portfolios. This eliminates the need for crypto exchanges, digital wallets, or custody solutions. The simplified access opens participation to institutional and retail investors who previously avoided cryptocurrency markets due to technical complexity.
Earlier this year, Grayscale filed with the SEC to convert its XRP product into an ETF, following the successful conversion of its Bitcoin and Ethereum trusts. The company continues expanding its regulated product lineup. Grayscale is preparing to go public in the United States, having filed for an IPO to list its Class A shares on the NYSE.
Dogecoin derivatives volume increased more than 30% to reach $7.22 billion according to CoinGlass data. XRP derivatives volume surged 51% to hit $12.74 billion
Price volatility has intensified in the days before launch. At the time of writing, Dogecoin is trading at $0.1364, suggesting a 1.18% decline in the last 24 hours.
Dogecoin price chart, Source: CoinMarketCap
XRP slid sharply during early trading hours before bouncing near $1.85, with the recovery pushing prices back toward $1.90 at the time of writing.
